Boden Named Vice President of FCL IT Department.

Business Editors

MINNEAPOLIS--(BUSINESS WIRE)--June 11, 2002

Dave Boden has been named vice president of Information Technology for Farm Credit Leasing (FCL), a nationwide lease financing company that works with agricultural producers and cooperatives, and energy and communications organizations.

In his new role, Boden oversees FCL's information systems. His responsibilities include all corporate systems development efforts, systems architecture planning, new technology assessment and integration, networking, Internet and technical services, PC and Desktop computing, IT operations and user support.

Boden was most recently FCL's vice president of systems and technology, focusing primarily on systems development and integration. He has worked at the company since 1987 when he took a position as an analyst. Boden has held several analyst and management positions since then. Prior to working at FCL, he worked in business PC sales and support for Tandy Business Computer Center. Boden attended the University of Wisconsin, Madison, and graduated with a bachelor of science degree in industrial engineering with an emphasis on information systems.

"Dave's long tenure with the company and intimate knowledge of its systems and customers make him the ideal candidate for this position," says Philip J. Martini, FCL CEO and president. "In fact, his overall focus will change very little. He will continue to concentrate his leadership and talents on areas of new development, particularly our Web-based capabilities."

FCL provides equipment leasing and related services for all types of vehicles, equipment and machinery. It is among the nation's 50 largest leasing companies with more than $2.1 billion in assets under management. FCL is part of the 86-year-old, $101 billion Farm Credit System, one of the largest and oldest cooperatives in the nation. Today, this national network of approximately 125 borrower-owned banks, associations and service corporations provides production agriculture with approximately one-quarter of its credit and financial needs. CoBank, one of seven banks in the Farm Credit System, is FCL's majority common stockholder. With $25 billion in assets, CoBank specializes in agribusiness, agricultural export, rural communications and rural energy financing. AgFirst Farm Credit Bank of Columbia, S.C., is FCL's minority common stockholder. The $12.9 billion bank provides funding and financial services to 24 farmer-owned financial cooperatives in 15 eastern states and Puerto Rico. The remaining five Farm Credit Banks also have an ownership stake of preferred stock in the company. In addition to its corporate headquarters, FCL maintains 11 sales offices throughout the country.